Colorado Initiative 84 | Banking Groups Challenge Initiative that Would Require Lenders to Prove their Right to Foreclose

Two of Colorado’s largest banking associations are digging in for what could be a protracted battle against a ballot initiative that would require lenders to prove their right to foreclose on property.

Currently, a bank can foreclose with just a lawyer’s signature without proof — such as a properly assigned mortgage — that it is owed the money.

Initiative 84 would require lenders to show proof of their interest in a mortgage or note before they could take someone’s property. They could do so either by having recorded with a county the note and its assignment, or by providing certified copies in court of its endorsement to them.

The Independent Bankers of Colorado, a trade group of community banks, says the issue should be handled legislatively, not as an amendment to the state constitution.

“This could be a long battle,” IBC executive director Barbara Walker said of the group’s commitment to challenge a ballot initiative.

Comments

Many Times, there ARE: multiple Filers; On the Precise, SAME premise: With the UN-Lawful Take Overs;
of Fiduciary Institutions, by: Private, Foreign Owned, Quasi Governmental, CorpoRATe Entities, such as: Fraudy May and Fraudy Mac, from the actual: CONtracted, bona fide: ” First Party of Interest, Lawful: Holders of the “Promissory NOTE,” selling off BLOCKS/ POOLS of Bifurcated, Securitzed DEBTS; to “mere Third Party Debt Collectors,” [absent the magically Disappeared Promissory NOTES, to DE-Fraud the states, counties, and Burroughs, of their extortionate Stolen TAXES, by securitizing them Multiply to FAIL, and thereby enjoy copious multiples, of: egregious, Unjust Enrichment, to satisfy their: Lustful, Greedy, avaricious, Demoniac cupidity, by: ANY MEANS POSSIBLE, they SELL off; the UN-Collectible DEBTS, to Other GREEDY Opportunists, without compunction, or in spite of being lawfully Victimized themselves, by F.D.C.A., F.D.C.P.A., P.D.A., F.T.C.P.A., and Other: Federal Protection Acts, from Rapacious, Predatory, Treacherous, Treasonous, Thieving, Debt Collection Fraudsters!

In Colorado they only need a lawyers signature but Colorado for the most part stand behind the banks and corporations until they realize hey they are taking away my rights. It’s the same with fracking. In five years the uninformed citizens of Colorado will say hey they are taking away my rights but by there they will be drinking water that is on fire and wearing gas masks.

I’m sorry if I sound bitter but I am not a native of Colorado and don’t understand why it takes them so long.

In contrast, I have to say that I am totally impressed with the ballot initiative. From what I understand the banks thought they had it made when a similar bill was voted down. The legislators were so arrogant and mean to the victims I wanted to puke. They gave the victims 3 to 5 minutes and the banks and foreclosure mill attorney Larry Castle over an hour. This initiative has taken them totally by surprise, big smile on my face here. The Progressive Coalition has done a great job and deserves our support. Anyone that can donate even $5 would be sticking it to the bank because if this passes the banks are not going to be able to steal your home in Colorado anymore.

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